A real estate sold sign hangs in front of home. THE CANADIAN PRESS/Graeme Roy
A tight market continued to have an effect on home sales in Grey-Bruce last month.Home sales were down 11.3 per cent in March compared to a year ago, while prices were up 5.3 per cent compared to March 2018, as overall supply stands near record lows, according to the latest statistics from the Realtors Association of Bruce Grey Owen Sound.The number of homes sold in March totalled 172 units. On a year-to-date basis, 422 units were sold over the first three months of the year, down 10 per cent when compared to the first three months of 2018.The average price of homes sold in March was $353,235. The year-to-date average price for 2019 was $353,681, up 7.6 per cent for the first three months of 2018.The number of new residential listings in the region number 308 units in March, down almost 22 per cent from a year ago, and the lowest the supply of new listings has been in March since 1993.Overall supply is near record lows with the number of active residential listings totalling 699 at the end of March, down 2.2 per cent from the same time last year, and the lowest level since 1989.The months of inventory at the end of March totalled 4.1, up slightly from the 3.7 months recorded at the end of March 2018, but still less than half the long-run average of 9.8 months for the time of year.The value of all homes sold in March was $60.8 million, down 6.7 per cent from March 2018.Sales of all property types in the month numbered 234 units, down 9.7 per cent from a year ago, while the total value of those properties was $81.4 million, up 6.8 per cent from March 2018.RAGBOS represents approximately 400 realtors in an area that includes Grey and Bruce and part of Wellington counties.